JSC Grindeks informs that it has received the Statement of Grindeks Chairman of the Board Janis Romanovskis on his resignation from the position of Chairman of the Board starting from 24th of November. Janis Romanovskis decided to leave the company of his own volition.

Janis Romanovskis worked in Grindeks since 2003 and previously fulfilled the duties of the Financial and Administrative director. In 2007 he was appointed in a position of Chairman of the Board.

Chairman of the Council of Grindeks Kirovs Lipmans: “I would like to express my gratitude to Janis Romanovskis for his contribution to Grindeks growth and work! Over recent years much has been done in the company – realisation of large-scale projects, an increase of Grindeks export capacity. I am sure that his experience and knowledge will help him to gain a great career success in the future.”

Until further decisions the Board of Grindeks will continue to work in composition of two Board Members – Vadims Rabsha, Finance and Administrative director and Lipmans Zeligmans, Director of the Final Dosage Forms Manufacturing.

About Grindeks

Grindeks is the leading pharmaceutical company in the Baltic States. Its main fields of action are: research, development, manufacturing and sale of original products, generics and active pharmaceutical ingredients. The Group of Grindeks consists of four subsidiary companies in Latvia, Estonia and Russia, as well representative offices in ten countries.

Grindeks specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups. A range of products covers a successful combination of original products and generics, with the original products Mildronate® and Ftorafur® and more than 100 forms of effective and safe generics included therein. Currently Grindeks produces 16 active pharmaceutical ingredients.

Products of the company are exported to 50 countries and its export comprises more than 95% of the total turnover. The main markets are: Russia and other CIS countries, the Baltic States, Germany and the Netherlands. In 2010 The Ministry of Economics of Republic of Latvia and Investment and Development Agency of Latvia awarded Grindeks as the most export potential company of Latvia. During the last years the company realized many considerable investment projects in purpose to increase production capacity and develop infrastructure and invested 32.7 million lats within five years.

JSC Grindeks shares are listed in the Official List of “Nasdaq OMX Riga”. Major shareholders of JSC Grindeks are Kirovs Lipmans – 33.29%, Anna Lipmane – 16.69%, “Skandinaviska Enskilda Banken” – 12.42%, “AB.LV Private Equity fund 2010” – 11.38%, “Swedbank” AS Clients Account – 6.87%.

Further information:
Laila Klavina
Head of the Communications Department, JSC Grindeks
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
E-mail: laila.klavina@grindeks.lv